See Better Results with A Year-Round Planning Process
By Jason Moore
Hospitals have traditionally created an annual strategic plan as a roadmap for achieving growth goals. While still an important step in the growth process, it's becoming clear that a stand alone annual plan won't cut it in today's healthcare world.
This annual routine has been driven by annual data reporting—a factor that is changing due to increased adoption of the frequently updated all-payer claims data (APCD). Stratasan’s APCD updates monthly, for example, allowing for more frequent market reporting that can lead to plan adjustments.
There is also reason to believe that plans are more widely adopted when more members of the organization are invested in the process. This can be a difficult change in mindset for organizations accustomed to planning that takes place only at the c-suite level.
How can hospitals shift to take advantage of more readily available data insights and make changes that will ensure greater adoption? The answer is an iterative planning process that invites organization-wide input and applies data-backed market insights.
Read More
Tags:
strategic growth,
strategic growth planning,
strategic plan,
strategic planners,
strategic planning,
hospital strategic growth,
strategic growth plan,
Hospital growth plan,
hospital growth
Drive More Patient Volume and Improve Your Bottom Line
By Jackie DeGroat and Megan Reeves
Here’s something you already know: hospitals need physicians in order to drive patient volume. Opening a new service line or expanding an existing one is dependent on successful physician recruitment.
What you may not fully understand is how to involve physicians in a way that engages them at a strategic level. It can be a challenge to incorporate their input, even when you know it’s important to do so. And it can be a particularly difficult prospect for hospitals who have not prioritized this approach in the past, as it means a change to the status quo.
But the reality is that involving physicians in your planning can improve their connection to your hospital and their loyalty to your mission, vision, and values. It can also increase their buy-in, leading them to be more productive and willing participants in service line growth. Additionally, physicians have a firsthand understanding of your patient’s needs. Their input into your strategic growth strategy can lead to better alignment with the needs of your market.
Read More
Tags:
physician relations,
strategic growth,
strategic growth planning,
hospital strategic growth,
physician recrutiment,
strategic growth plan,
healthcare physician strategy
A More Efficient Way to Boost Revenue and Attract Patients
By Tony Camarata
Historically, market performance has been measured through market share, a single snapshot of patients treated. While market share can be used to measure market position, it fails to deliver the complex intricacies of patient choice, which are vital to improving care delivery. Hospitals planners need better visibility into the full continuum of patient choice in order to deliver the right services for their patients.
Share of wallet provides this added visibility by not only showing the patient treatment snapshot, but also showing everywhere else your patients are utilizing care. These insights will lead your team down the path of determining if you can provide that same care to your patients and potentially attract them to choose your hospital over your competition.
Read More
Tags:
strategic growth planning,
healthcare growth,
all-payer claims data,
apcd
A Behind the Curtain Look into Stratasan’s Planning Process
By Jason Moore
As we near the end of 2018, goal setting and annual planning are top of mind for all of us. Strategic planning is a useful process for organizations of all shapes and sizes and a well-defined strategic plan is key for companies that want to thrive, grow, and remain competitive. In this post, I want to give you a peek behind the curtain into our process to help you better understand how we think about and plan for the future of our business.
Stratasan’s co-founder and CTO, Brian Dailey, introduced Good Strategy/Bad Strategy: The Difference and Why it Matters by Richard Rumelt to our executive leadership team (ELT)* in late 2017. After reading and discussing it as a group, we decided to implement this methodology to our strategic planning process. Starting this process so late in the year though meant our 2018 strategy was not completed until the year had already begun. This limited how effective our 2018 planning could be, but we still recognized that we’d landed on a good process. This year, we were motivated to start earlier and are already seeing positive synergy around our 2019 strategies as a result.
Read More
Tags:
strategic growth planning,
strategic planning,
growth planning,
annual planning
Measure Effectiveness and Communicate Value to Your Organization
By Brian Dailey
One of the great things about attending the Society of Healthcare Strategy & Market Development (SHSMD) annual conference is talking directly with our customers. If one were to build a Venn diagram of SHSMD attendees and Stratasan clientele, the circles would very nearly overlap.
A common thread I've heard in these conversations is that proving the value of planning and marketing to the rest of the business can be very difficult. Businesses want to see a very clear return on investment, and it's on marketing and planning departments to not only do their jobs, but also communicate the value of their jobs to the rest of the organization. This is especially true as the industry continues to do more with less (as has been very succinctly described in SHSMD's "Bridging Worlds.")
Read More
Tags:
strategic growth planning,
healthcare marketing,
SHSMD,
shsmd18
By Morgan Atkins
Within healthcare organizations, teams are now a fundamental unit of organization. One study, published in The Harvard Business Review, found that ‘‘the time spent by managers and employees in collaborative activities has ballooned by 50 percent or more’’ over the last two decades and that more than three-quarters of an employee’s day is spent communicating with colleagues at many companies.
With the emphasis on teamwork, it’s important for the practices of these teams to be thoughtfully considered. Particularly, the common and important team effort of brainstorming new ideas together. “Studies show that people working in teams tend to achieve better results and report higher job satisfaction.” The New York Times Magazine reports. Knowing that, we wanted to discuss how brainstorming can be an effective team experience.
Read More
Tags:
strategic growth planning,
strategic planning,
growth planning,
team,
strategic growth plan,
growth mindset,
brainstorming
By Lee Ann Lambdin, Taylor Smith, and Jackie DeGroat
Why It’s Critical for Measuring Progress, Driving Growth, and Meeting Goals
A Playbook for Independent Hospitals and Small Health Systems
Read More
Tags:
strategic growth,
strategic growth planning,
healthcare,
healthcare strategic growth,
analytics partner,
healthcare service area,
service area growth,
data analyst,
healthcare analyst
Practical Tips for Maintaining a Growth Mindset in your Organization
By Morgan Atkins
Stratasan understands how paramount change is to progress. We strive to be trailblazers in the healthcare space, developing innovative tools and services that address our clients' growth goals. The best way we can effectively lead our clients and provide value is by innovative thinking that challenges the status quo. Our goal is to empower our customers with the strategies that will equip them to more effectively face a challenging and ever-evolving healthcare industry.
At the heart of innovation is the ability to reframe your perspective. Henry Ford once said "If I had asked people what they wanted, they would have said faster horses." Often, the question itself limits what you think the possibilities are. If you have an open mind about the possibilities, you maximize your chances of building effective and unexpected solutions.
Read More
Tags:
strategic growth planning,
strategic planning,
strategy,
growth,
growth planning,
healthcare strategy,
working smarter,
healthcare growth,
healthcare trends,
leadership,
change,
healthcare leadership,
development,
core values,
hospital growth